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Two major updates dropped today that have investors looking like this: 1/ US-China trade deal The US and China have reached a trade agreement after two days of talks. It still needs final approval from both presidents, but here's what's in it anyway: >China will supply rare earth materials , super important for tech, defense, and energy industries; >US will follow through on whatever was agreed to, which includes continuing to let Chinese students study at US universities; >The US will apply a total of 55% in tariffs on Chinese goods, and China is charging 10% on US exports. 2/ Inflation came in cooler than expected We also got May’s inflation data (CPI), and it showed that prices rose more slowly than economists had predicted: Year-over-year: 2.4% (vs. 2.5% expected); Month-over-month: 0.1% (vs. 0.2% expected). Economists say the Fed should be relieved by this report, but they'll likely stick to their “wait and see” plan at next week’s meeting. Or maybe not. We'll have to wait and see.
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